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  |   Technicals


FxWirePro- BTCUSD Daily Outlook

Ichimoku analysis (Daily chart)


Tenken-Sen- $36037


Kijun-Sen- $37012


BTCUSD is holding above $40000 after Elon Musk tweet increased positive sentiment. The pair hit a high of $41050 yesterday and consolidating after a minor pullback.  Bitcoin has lost more than 50% from an all-time high of $64985 due to negative news from China on crypto mining. It hits an intraday low of $39573 and is currently trading around $40239.


The near-term resistance is around $42500 (200- day MA). Any indicative break above targets $43339/$45870/$47000. Short-term trend continuation above $47000.


The pair's minor support is around $37300. Any convincing break below will drag the pair down to $36540/$34800/$30000.  Any close below $30000 will drag the pair down to $26800/$20000.


Indicator (4-Hour chart)


CAM Indicator – Bullish


Directional movement index – Bullish 


It is good to buy on dips around $39000 with SL around $37000 for TP of $47000.

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